One of the principal purposes of the David D. Caron Fund is to establish the David D. Caron Prize. The Prize is awarded to the best paper presented at the Research Forum by a current student or recent graduate. The Prize is accompanied by a travel stipend to enable the recipient to attend the Society's Annual Meeting to receive the Prize.
The inaugural winner of the David D. Caron Prize was Dr León Castellanos-Janciewz of The Asser Institute in The Hague, The Netherlands. Dr Castellanos-Jankiewicz's paper, presented at the 2018 ASIL Mid-Year Meeting at UCLA, was entitled: "Nationalism, Alienage, and Early International Rights".
The second winner of the David D. Caron Prize was Dr Yanbai Andrea Yang of Stanford Law School, California, USA. Dr Yang's paper, presented at the 2019 ASIL Mid-Year Meeting at Brooklyn Law School, was entitled: "Exporting American Discovery".